What are the advantages, disadvantages and financial implications of appointing the bank as an executor of my will, instead of my child or relative?
We have all heard the term ‘probate.’ However, we may not be exactly sure what this means. It may sound daunting, but don’t be intimidated by the phrase.
This year for the holidays, why not give yourself and your loved ones a little peace of mind?
The personal representative (formerly executor) of the deceased’s estate may be responsible for filing a number of tax returns.
You have just completed what may very well be one of the most important documents for you and your family. Time passes, years go by, your will is safe and sound – but is it still up-to-date?
When a financially comfortable loved one departs, a bevy of tax issues can come into play.
When a loved one dies leaving property, debts and a mortgage, and if he did not have a living trust, probate is required to sort everything out.
However, some want you to believe that you need only purchase a form to have an effective estate plan. Using this form, you are told, can save money and — best of all — the form is valid in all 50 states.
Acting as an executor can be a tremendous amount of responsibility and a time-consuming duty.
Estate administration in the digital age requires having a strategy to share passwords to your computer, email and online accounts. Without that, things quickly get complicated.
